Huntsworth acquires Atomic PR
Company plans to expand in US
British PR group Huntsworth Plc has bought the US based agency Atomic PR for £8m in cash, in a bid to expand its reach in North America.
Huntsworth, which oversees established comms firms such as Grayling, Citigate and Red, has acquired Atomic from co-founders Andy Getsey and James Hannon, and a number of minority shareholders.
Under the terms of the deal, Huntsworth has bought the entire issued share capital of the US entity Atomic Communications, LLC; 50% of Atomic Communications Holdings Limited in the UK; and the bespoke web based data analytics application ComContext.
Atomic, which has offices in San Francisco, Los Angeles, New York and London, registered a pre-tax profit of $1.9m and gross assets of $2.5m in the year ending December 31 2010.
The company has been working with Grayling since 2009 and will give the burgeoning public affairs specialist an enhanced US presence from which to secure global business, via their new joint venture.
Michael Murphy, chief executive of Grayling, commented: “Grayling has successfully built a global platform during 2010 and we have begun to win sizeable global and multi-country clients. As we increase in scale, we need to enhance our presence in the North American market.
“Atomic not only adds to our scale but also brings a unique competitive advantage through their ComContext technology.
“This will help accelerate our growth and add unique analytics and additional social media capabilities, for the benefit of all our clients.”
© Crimson Business. Ltd 2011